The survey also found the percentage of students indicating that cost was a “very important” factor in choosing a college reached a 10-year high (45.9%). That rate was 15 percentage points higher than what students said in 2004.

Financial aid concerns also have gone up in the last 10 years, with 49% reporting financial assistance was “very important” in selecting which school to enroll in. In 2004, the percentage was only 34%.

“The difficult financial decisions that students and their families have to make about college are becoming more evident,” Kevin Eagan, interim director of CIRP, said in a press release. “Colleges that can reduce net costs to families are gaining more of an edge in attracting students to their campus.”

Tuition costs were more of a concern among first-generation students (54%) than continuing-generation students (44%), CIRP discovered.

The gap between first-generation students and continuing-generation students was even wider when asked about the importance of financial aid in choosing their college, 60% versus 46%.

“Students are smart to understand net cost differences, but they otherwise must rely on high schools and institutions to help them navigate the college-choice and financial aid processes. It is not clear that there is adequate counseling for the final stage of decisions these students make,” Hurtado said.